The nation’s auto parts and accessories industry has been relatively unaffected by the global recession because companies export products mainly to the aftermarket, the Ministry of Economic Affairs (MOEA) said yesterday.
Since the second half of last year, the economic deterioration has led to a slump in demand for new cars, pushing automobile manufacturers and parts suppliers worldwide to the brink of bankruptcy.
However, Taiwan’s auto parts and accessories industry saw yearly growth of 3.18 percent in exports last year, when manufacturers shipped NT$195.66 billion (US$5.82 billion) in products abroad, Vice Minister of Economic Affairs Lin Sheng-chung (林聖忠) said yesterday at the opening ceremony for the 2009 Taipei International Auto Parts and Accessories Show (AMPA) and the Taipei International Automobile Electronics Show (AutoTronics).
Chao Yuen-chuan (趙永全), chief executive officer of the event organizer, the Taiwan External Trade Development Council (TAITRA, 外貿協會), said the financial problems facing the big three US automakers had put nearly 1,000 downstream original equipment manufacturer parts dealers out of business, citing a survey conducted by the US National Automobile Dealers Association.
“As a result, demand will shift toward the aftermarket, which will bring many business opportunities for the aftermarket auto parts industry in Taiwan,” Chao said.